1. During the previous year your company sold $250,000 in merchandise on credit. The merchandise cost $175,000. 2. During the previous year your company received $215,000 in cash for the above sales. 3. During the previous year you wrote off $5,700 of bad debts from customers. 4. On December 1, you lent $10,000 for 6-months at an interest rate of 3%. 5. At the end of the previous year, you used the percentage of sales method of estimated bad debts. You estimate that 2.5% of credit sales will be uncollectible. 6. At the end of the previous year, you recorded interest on the note mentioned in (4)